The Bancorp, Inc. (NASDAQ:TBBK) Receives Average Recommendation of “Moderate Buy” from Analysts

The Bancorp, Inc. (NASDAQ:TBBK) has earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $59.50.

A number of equities analysts recently weighed in on TBBK shares. Weiss Ratings cut Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. Piper Sandler started coverage on Bancorp in a report on Thursday, March 12th. They set an “overweight” rating and a $66.00 price objective on the stock. Wolfe Research set a $57.00 price objective on Bancorp in a report on Monday, February 9th. Wall Street Zen raised Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Zacks Research raised Bancorp from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd.

Insider Activity at Bancorp

In related news, EVP Ryan Harris sold 4,500 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $53.18, for a total transaction of $239,310.00. Following the transaction, the executive vice president directly owned 150,516 shares of the company’s stock, valued at approximately $8,004,440.88. This trade represents a 2.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Maria Wainwright sold 8,400 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $60.24, for a total value of $506,016.00. Following the transaction, the chief marketing officer directly owned 24,942 shares in the company, valued at approximately $1,502,506.08. This represents a 25.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 17,370 shares of company stock valued at $1,014,778. Corporate insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of TBBK. Royal Bank of Canada lifted its stake in shares of Bancorp by 98.2% in the 1st quarter. Royal Bank of Canada now owns 76,696 shares of the bank’s stock valued at $4,052,000 after acquiring an additional 37,993 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Bancorp by 15.9% in the 1st quarter. AQR Capital Management LLC now owns 16,734 shares of the bank’s stock valued at $884,000 after acquiring an additional 2,296 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Bancorp by 1.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,183 shares of the bank’s stock valued at $1,436,000 after acquiring an additional 518 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Bancorp by 6.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,523 shares of the bank’s stock valued at $7,795,000 after acquiring an additional 8,454 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Bancorp by 145.8% in the 1st quarter. Jane Street Group LLC now owns 128,173 shares of the bank’s stock valued at $6,773,000 after acquiring an additional 76,027 shares during the last quarter. Institutional investors own 96.22% of the company’s stock.

Bancorp Price Performance

NASDAQ:TBBK opened at $55.55 on Thursday. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 10.81 and a beta of 1.26. Bancorp has a 52-week low of $48.86 and a 52-week high of $81.65. The stock has a fifty day moving average of $56.39 and a 200 day moving average of $60.91. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.89.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. Bancorp had a return on equity of 30.56% and a net margin of 26.92%.The firm had revenue of $132.50 million during the quarter, compared to analyst estimates of $189.17 million. On average, research analysts expect that Bancorp will post 5.95 EPS for the current fiscal year.

About Bancorp

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.